Monday, August 19, 2019

20 August 2019 BMD

We are expanding to global markets. See next article for the trade plan.

LOCAL MARKET

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FKLI 


FKLI still resisted around 1600 and refused to breach across this level and had a weak closed at 1592 yesterday, despite the strong recovery in the regional markets. This could indicating that the selling pressure in our market is greater than the buying pressure which resulting the fall.

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Plan A : Continue to short if market stays below 1605
Plan B : Cut above 1609
Plan C : Consider to long if market stays firm above 1596
Plan D : Cut below 1592


FCPO

FCPO peaked at 2174 and closed 2159 for the first session, hovering around the positive net change. Market depressed to 2150 this morning, the low so far. Dalian and soybean oil are mixed while Ringgit stays at RM4.18 against the greenback. 

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Plan A : Buy only if market supported firm above 2168. Targets are 2178 and 2192.
Plan B : Sell if market failed to support above 2159. Targets are 2138 and 2115.
Plan C : Above 2175, no fresh position.
Plan D : Below 2152, no fresh position.    


Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Market Watch and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the r.isks, consequences and suitability of that investment.

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